Pure Energy Minerals Ltd V.PE

PE/SLB Earn in agreement

[Luv2tinker]

Does anyone understand the structure of the earn in agreement with Schlumberger? It looks like after reading SEDAR filings, till my eyes felt like raisins, that once SLB completes an operating plant they will get 100% of the Clayton Valley operation. There is a 3% royalty to be paid to PE from net smelter revenue but NOWHERE can I find how that 3% is going to used. Will it be distributed to PE shareholders or used to fund a new exploration? What will our shares of PE be representing at that point?

[desertbarnacle]

tinker, thats the way I read when it was announced, give away the resource but retain 3% NSR of some sort.  NSR or other type of rolaalty.  3%.  So, yeah, the company is now a rolatity company mainly.  Wish I could spell royality.  Maybe I better have new look at their website to see of they doing anything else right now.   Bob

[Luv2tinker]

I did not see any new projects listed on their site. I will see if I can reach IR for PE on Monday..thanks.

[Luv2tinker]

Still have not heard back from IR @PE yet. However, in another forum where I posted the same questions (yahoo finance conversations for PE FYI ) , others have shared that to their understanding of the agreement is SLB will have the option  to acquire PE Clayton Valley Project @ market value upon meeting the criteria set in the contract. If their understanding is correct then there is a much

[desertbarnacle]

Tinker, I think you read it all correctly, the property has already been assigned per the contract less the NSR.  Still, an 3% NSR represents considerable value. Bob